‘Good benefits’ helped with retention this year, Workhuman finds

Dive Brief:

  • 2023 was a year of worker loyalty, according to a recent report from Workhuman; 58% of employees had no plans to leave their jobs and satisfaction with “good benefits” topped the list of reasons to stay. Rounding out the top three were good relationships with co-workers and fair compensation.
  • Among the workers who planned to leave but ended up staying, most were convinced by receiving a promotion or raise. Others cited experiencing a positive change in company culture or management or getting new opportunities at work.
  • Perhaps surprisingly, Workhuman noted that working arrangement was reported among the least important factors by workers when searching for a new job.

Dive Insight:

Employees have varied in their reports of what they value most in a workplace — be it traditional assets like benefits and pay, or more contemporary offerings such as flexibility and remote work options. 

Since the pandemic changed the working environment on a broad scale, flexibility has won out with many; iCIMS is just one of many firms to find employees reporting that flexible work is a top factor in their decision to accept a job offer. 

While the lower enthusiasm for a preferred work arrangement reported to Workhuman may be confusing in light of fervor over flexibility, other findings have shown that the two aren’t always synonymous. Respondents to a survey by digital payroll firm Deluxe last year said that flexible schedules matter more than the ability to work from home, for example.

Just because work arrangements aren’t the top priority doesn’t mean workers are indifferent, however; in a more recent survey from Owl Labs, with more companies pushing for a return to the office, two-thirds of respondents said they were back at the office full time, and only 22% of respondents said in-office was their preferred arrangement. 

Many of the top factors workers desire — work/life balance, productivity and performance, and recognition and rewards — are “closely interrelated,” Workhuman noted. “By providing employees with flexibility and balance while investing in a culture of recognition, companies will lay the groundwork for improved productivity and performance, strengthening the organization and providing a more fulfilling employee experience.”